PTIRelated
Edelweiss has buy call on with a target price of Rs 2250. The current market price of MindTree Ltd. is Rs 2029.
Mindtree Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 33169.62 Crore) operating in IT Software sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 2085.30 Crore, up 6.91 % from last quarter Total Income of Rs 1950.50 Crore and up 4.26 % from last year same quarter Total Income of Rs 2000.10 Crore. Company reported net profit after tax of Rs 326.50 Crore in latest quarter.
Investment Rationale
Mindtree has been setting up nicely to form a traditional Flag pattern. The current move is the beginning of the new swing move. A move above Rs 2,045 would trigger a directional move.
Promoter/FII Holdings
Promoters held 67.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.02 per cent, DIIs 8.96 per cent and public and others 11.43 per cent
Mindtree Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 33169.62 Crore) operating in IT Software sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 2085.30 Crore, up 6.91 % from last quarter Total Income of Rs 1950.50 Crore and up 4.26 % from last year same quarter Total Income of Rs 2000.10 Crore. Company reported net profit after tax of Rs 326.50 Crore in latest quarter.
Investment Rationale
Mindtree has been setting up nicely to form a traditional Flag pattern. The current move is the beginning of the new swing move. A move above Rs 2,045 would trigger a directional move.
Promoter/FII Holdings
Promoters held 67.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.02 per cent, DIIs 8.96 per cent and public and others 11.43 per cent
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